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Shriram City Union Finance likely to raise Rs 750 crore via bonds

09 Aug 2011 Evaluate

Shriram City Union Finance (SCUF), a non-banking finance company will raise up to Rs 750 crore through a non convertible debenture (NCD) issue this month. The issue will be open between August 11 and August 27.  The company will let investors choose between the three years and five years tenor options and will carry a coupon rate of up to 12.10% per annum.

The company aims to raise Rs 375 crore from the issue, while the company has a green-shoe option to retain oversubscriptions of an equal amount. The company is likely to use the proceeds of the issue in regular financing business and repaying debt.

SCUF is the country's biggest lender to small enterprises requiring loans of up to Rs 10 lakh and is also present in other segments like two-wheeler finance, loans against gold and existing two-wheelers, and financing white goods.

Shriram City Union Share Price

1923.55 0.00 (0.00%)
28-Nov-2022 18:01 View Price Chart
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